Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Housing Market Overview
| Metric | Northdale | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $350,004 | $293,727 | $242,182 |
| Price Trend (Annual %) | 21.0% | 12.0% | 8.2% |
| Median Gross Rent | $1,686 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 5.7% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Northdale is about 19% higher than in Florida. Rent is about 8% higher than the Florida average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Northdale, up about 21.0% and 5.7% a year respectively. Home prices are changing faster.
Median rent in Northdale rose about 49.0% between 2015 and 2023, from $1,131 to $1,686. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 3.7 yearly household incomes in Northdale.
Buying the median-priced home in Northdale costs roughly 17.3 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Northdale. The price-to-rent ratio in Florida is about 15.7.
| Metric | Northdale | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $350,004 | $293,727 | $242,182 |
| Median Household Income | $93,775 | $71,865 | $78,145 |
| Price-to-Income Ratio | 3.7 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Northdale rose about 327.2%, while median household income rose about 41.9% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Northdale | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 71.9% | 57.1% | 58.2% |
| Rental Rate | 26.3% | 27.7% | 31.3% |
| Vacancy Rate | 1.8% | 15.2% | 10.6% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
Northdale has a homeownership rate of 71.9%, higher than the Florida average of 57.1%. Its housing vacancy rate is 1.8%, compared with 15.2% in Florida.
Housing Stock
| Metric | Northdale | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.65 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1990 | 1987 | 1978 |
| Median Number of Rooms | 5.9 | 5.2 | 5.5 |
The typical housing unit in Northdale was built around 1990. On average, 2.7 people live in a home with about 5.9 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Northdale, Florida.
What is the median home price in Northdale, Florida?
The median home price in Northdale, Florida is $350,004, higher than the Florida average of $293,727.
What is the average home price in Northdale, Florida?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Northdale, Florida?
The median gross rent in Northdale, Florida is $1,686 per month, higher than the Florida average of $1,564.
What was the median gross rent in Northdale in 2020?
In 2020, the median gross rent in Northdale, Florida was $1,371 per month.
What is the price-to-rent ratio in Northdale, Florida?
The price-to-rent ratio in Northdale, Florida is about 17.3, meaning it would take roughly 17.3 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Northdale.
Are home prices or rent rising faster in Northdale, Florida?
Both home prices and rent are rising in Northdale, up about 21.0% and 5.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Northdale, Florida?
71.9% of households in Northdale, Florida own their home, higher than the Florida average of 57.1%.
What is the vacancy rate in Northdale, Florida?
The housing vacancy rate in Northdale, Florida is 1.8%, lower than the Florida average of 15.2%.